AnaptysBio (NASDAQ:ANAB) Shares Gap Up After Analyst Upgrade

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price gapped up before the market opened on Wednesday after UBS Group upgraded the stock to a strong-buy rating. The stock had previously closed at $43.91, but opened at $45.65. AnaptysBio shares last traded at $45.27, with a volume of 120,467 shares changing hands.

Several other equities research analysts have also commented on ANAB. Truist Financial upped their price target on shares of AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, November 10th. Wall Street Zen raised shares of AnaptysBio from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 16th. Stifel Nicolaus decreased their price target on shares of AnaptysBio from $80.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. HC Wainwright dropped their price target on shares of AnaptysBio from $52.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Finally, Guggenheim reissued a “buy” rating on shares of AnaptysBio in a research report on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.40.

Insider Activity at AnaptysBio

In other news, CFO Dennis Mulroy sold 1,908 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $45.11, for a total transaction of $86,069.88. Following the sale, the chief financial officer directly owned 17,667 shares in the company, valued at $796,958.37. This trade represents a 9.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric J. Loumeau sold 9,639 shares of AnaptysBio stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $45.56, for a total transaction of $439,152.84. Following the transaction, the insider owned 9,157 shares in the company, valued at approximately $417,192.92. This trade represents a 51.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 112,624 shares of company stock worth $5,171,459 in the last 90 days. Insiders own 33.50% of the company’s stock.

Trending Headlines about AnaptysBio

Here are the key news stories impacting AnaptysBio this week:

• Positive Sentiment: Anaptys filed a partial motion to dismiss Tesaro (a GSK subsidiary)’s anticipatory breach claim in Delaware Chancery Court, which, if sustained, could reduce near?term royalty exposure tied to Jemperli sales and lower legal risk. Reuters: AnaptysBio seeks partial dismissal GlobeNewswire: Motion to dismiss filing
• Positive Sentiment: Recent fundamentals and capital actions remain supportive: Anaptys reported an earnings and revenue beat in November and its board authorized up to $100M in share repurchases, which can support the share price over time by signaling management confidence and reducing outstanding float. MarketBeat ANAB coverage
• Neutral Sentiment: Upcoming event: CEO Daniel Faga will present at the J.P. Morgan Healthcare Conference (Jan. 13), which could catalyze new corporate updates or guidance but is unlikely to move the stock absent specific news. GlobeNewswire: JPM presentation
• Neutral Sentiment: Institutional positioning: Several funds have added or initiated positions recently, which can provide longer?term demand but also increases the potential for large block trades to move the stock. MarketBeat ownership data
• Negative Sentiment: Insider selling: Multiple insiders (including the CEO and CFO) disclosed sizable sales on Jan. 5–7 that materially reduced their holdings; public Form 4 filings and media reports of these sales are likely contributing to today’s downward pressure as some investors view clustered insider sales negatively. InsiderTrades: insider selling alerts

Institutional Investors Weigh In On AnaptysBio

Institutional investors and hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC lifted its position in shares of AnaptysBio by 54.6% in the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 473 shares in the last quarter. Bessemer Group Inc. raised its stake in AnaptysBio by 950.0% during the 3rd quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 1,292 shares during the period. Tower Research Capital LLC TRC lifted its holdings in AnaptysBio by 175.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,377 shares in the last quarter. Osaic Holdings Inc. boosted its stake in AnaptysBio by 11,630.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 2,326 shares during the period. Finally, Covestor Ltd grew its holdings in AnaptysBio by 131,540.0% during the 3rd quarter. Covestor Ltd now owns 6,582 shares of the biotechnology company’s stock valued at $201,000 after buying an additional 6,577 shares in the last quarter.

AnaptysBio Stock Performance

The firm has a market capitalization of $1.21 billion, a PE ratio of -15.53 and a beta of 0.32. The business’s fifty day simple moving average is $42.46 and its 200-day simple moving average is $31.30.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $1.58. The firm had revenue of $76.32 million during the quarter, compared to analyst estimates of $15.83 million. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%. Sell-side analysts expect that AnaptysBio, Inc. will post -6.08 earnings per share for the current fiscal year.

AnaptysBio declared that its board has approved a stock repurchase plan on Friday, November 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the biotechnology company to reacquire up to 9.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

About AnaptysBio

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.